ASI Consortium Unveils Token Merger, Paving Way for AI Currency Revolution

The Superintelligence consortium plans to change the name of its reserve currency, $EFT, to $ASI after government approval. Ocean Protocol, Fetch.ai, and SingularityNET will submit proposals to the government for the change. If approved, the tokens of these projects can be swapped for $ASI at a 1:1 ratio. The total value of the Superintelligence consortium is estimated at $7.5 billion, with $EFT as the legal tender.

Artificial Superintelligence Consortium Unveils Plans for Major Token Merger, Paving the Way for a New Era in Digital Currency

Introduction:

In a groundbreaking move, the Artificial Superintelligence (ASI) consortium, a collaboration between Ocean Protocol, Fetch.ai, and SingularityNET, has announced its intention to merge its existing tokens, $EFT, $OCEAN, and $AGIX, into a single reserve currency, $ASI. This transformative initiative, subject to government approval, will establish $ASI as the official token of the ASI consortium.

The Merge Process:

The token merge will involve a seamless conversion of existing $EFT, $OCEAN, and $AGIX tokens into $ASI at predetermined exchange rates. Holders of these tokens will not be required to take any immediate action, as the conversion will be executed automatically.

Rationale and Benefits:

The decision to merge the tokens stems from the consortium's goal of creating a unified and efficient currency for its ecosystem. $ASI will serve as the reserve currency for all consortium services, eliminating the need for multiple tokens and simplifying transactions. Additionally, the merge is expected to enhance the value and liquidity of the tokens, benefiting all stakeholders.

Estimated Value and Timeline:

The combined value of the tokens involved in the merge is estimated at approximately $7.5 billion, with a total of 2.631 billion tokens. The consortium expects the merger to be completed in the coming weeks, subject to regulatory approval.

Impact on Token Holders:

$EFT token holders will automatically receive $ASI tokens in exchange for their existing tokens at a 1:1 ratio. $OCEAN and $AGIX token holders will also receive $ASI tokens at pre-arranged exchange rates. The consortium emphasizes that the conversion process will be seamless and will not require any action on behalf of token holders.

Automated Conversion on Crypto Exchanges:

Cryptocurrency exchanges that support $EFT, $OCEAN, and $AGIX tokens will automatically convert users' holdings into $ASI tokens. Users are advised not to deposit $OCEAN or $AGIX tokens into crypto exchanges after the conversion announcement.

Offline Token Swap:

Individuals holding tokens in hard wallets or offline storage can use the consortium's token swap system to exchange their $AGIX and $OCEAN tokens for $ASI. The token swap mechanism will be available indefinitely, allowing investors to convert their tokens at their convenience.

Stakeholder Assurance:

The consortium assures stakers that they will not experience any FX or exchange risk during the swap process. The swap contract has undergone rigorous testing and audits, and the consortium plans to conduct additional reviews before implementing the merge.

Commercialization of AI Services:

The token merger is seen as a crucial step towards the commercialization of advanced data and artificial intelligence services. The consortium believes that $ASI will become a preferred currency for transactions within the rapidly growing AI industry.

Conclusion:

The ASI consortium's token merger represents a significant milestone in the evolution of digital currency. $ASI will serve as the cornerstone of a unified ecosystem, fostering innovation and facilitating the adoption of AI technologies. The consortium's commitment to transparency, user-friendly conversion processes, and stakeholder assurance ensures a smooth transition for all involved parties.